Valero Energy Corporation (VLO)
Return on total capital
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 2,356,000 | 1,391,000 | 1,651,000 | 4,254,000 | 5,371,000 | 8,270,000 | 9,712,000 | 11,956,000 | 14,768,000 | 15,035,000 | 18,502,000 | 15,799,000 | 12,843,000 | 9,801,000 | 4,160,000 | 2,175,000 | 299,000 | -1,028,000 | 177,000 | -1,447,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 23,754,000 | 24,078,000 | 23,490,000 | 24,512,000 | 25,253,000 | 25,443,000 | 26,057,000 | 26,346,000 | 25,975,000 | 25,851,000 | 24,977,000 | 23,561,000 | 23,715,000 | 20,969,000 | 18,821,000 | 18,430,000 | 17,476,000 | 17,651,000 | 17,801,000 | 18,801,000 |
| Return on total capital | 9.92% | 5.78% | 7.03% | 17.35% | 21.27% | 32.50% | 37.27% | 45.38% | 56.85% | 58.16% | 74.08% | 67.06% | 54.16% | 46.74% | 22.10% | 11.80% | 1.71% | -5.82% | 0.99% | -7.70% |
September 30, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,356,000K ÷ ($—K + $23,754,000K)
= 9.92%